Kuwait: Glass Fibre Fabrics Market 2024

Glass Fibre Fabrics Market Size in Kuwait

The Kuwaiti glass fibre fabrics market soared to $X in 2022, increasing by 40% against the previous year. In general, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -21.0% against 2020 indices. Glass fibre fabrics consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Glass Fibre Fabrics Production in Kuwait

In value terms, glass fibre fabrics production fell to $X in 2022 estimated in export price. In general, production, however, showed a buoyant increase. The growth pace was the most rapid in 2018 with an increase of 443%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Glass Fibre Fabrics Exports

Exports from Kuwait

In 2022, the amount of glass fibre fabrics exported from Kuwait declined markedly to X tons, waning by -43.2% on 2021 figures. In general, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 2,960% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, glass fibre fabrics exports shrank markedly to $X in 2022. Over the period under review, exports, however, showed a significant increase. The pace of growth was the most pronounced in 2018 when exports increased by 3,323% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Qatar (X tons), India (X tons) and Indonesia (X tons) were the main destinations of glass fibre fabrics exports from Kuwait, together accounting for 70% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +101.1%), while the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X) remains the key foreign market for glass fibre fabrics exports from Kuwait, comprising 42% of total exports. The second position in the ranking was held by India ($X), with a 19% share of total exports. It was followed by Indonesia, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Qatar totaled +45.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+108.0% per year) and Indonesia (+55.3% per year).

Export Prices by Country

The average glass fibre fabrics export price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 21%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Lebanon ($X per ton), while the average price for exports to Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lebanon (+12.5%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fibre Fabrics Imports

Imports into Kuwait

In 2022, purchases abroad of glass fibre fabrics increased by 1.5% to X tons, rising for the second year in a row after two years of decline. In general, imports enjoyed a perceptible expansion. The pace of growth appeared the most rapid in 2017 with an increase of 68% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, glass fibre fabrics imports reached $X in 2022. Over the period under review, imports saw a modest expansion. The pace of growth appeared the most rapid in 2017 with an increase of 41%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

India (X tons), China (X tons) and Bahrain (X tons) were the main suppliers of glass fibre fabrics imports to Kuwait, together comprising 77% of total imports. Japan, Russia, the United Arab Emirates, the UK and Spain lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +27.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of glass fibre fabrics to Kuwait, comprising 49% of total imports. The second position in the ranking was taken by China ($X), with a 12% share of total imports. It was followed by Japan, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value from India totaled -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.5% per year) and Japan (+31.8% per year).

Import Prices by Country

In 2022, the average glass fibre fabrics import price amounted to $X per ton, remaining constant against the previous year. Overall, the import price continues to indicate a mild slump. The most prominent rate of growth was recorded in 2019 when the average import price increased by 20% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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